Boston Partners Has $2.91 Million Stock Position in Cass Information Systems, Inc $CASS

Boston Partners raised its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,862 shares of the business services provider’s stock after buying an additional 3,242 shares during the quarter. Boston Partners owned about 0.51% of Cass Information Systems worth $2,905,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Copeland Capital Management LLC grew its stake in shares of Cass Information Systems by 16.4% in the second quarter. Copeland Capital Management LLC now owns 1,667 shares of the business services provider’s stock worth $72,000 after acquiring an additional 235 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cass Information Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock worth $347,000 after purchasing an additional 312 shares during the last quarter. AlphaQuest LLC grew its position in Cass Information Systems by 23.9% in the 1st quarter. AlphaQuest LLC now owns 2,606 shares of the business services provider’s stock worth $113,000 after purchasing an additional 502 shares during the last quarter. IFG Advisory LLC increased its holdings in shares of Cass Information Systems by 1.3% during the 2nd quarter. IFG Advisory LLC now owns 49,912 shares of the business services provider’s stock worth $2,169,000 after purchasing an additional 657 shares during the period. Finally, Emmett Investment Management LP raised its position in shares of Cass Information Systems by 2.7% during the first quarter. Emmett Investment Management LP now owns 93,241 shares of the business services provider’s stock valued at $4,042,000 after buying an additional 2,426 shares during the last quarter. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Stock Up 0.1%

Shares of CASS stock opened at $42.02 on Friday. The company has a market capitalization of $549.72 million, a P/E ratio of 18.03 and a beta of 0.45. Cass Information Systems, Inc has a 12-month low of $36.07 and a 12-month high of $47.00. The firm has a 50-day moving average price of $39.72 and a 200 day moving average price of $41.71.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $54.01 million for the quarter, compared to analysts’ expectations of $50.20 million. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.72%. As a group, research analysts expect that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, December 5th will be given a dividend of $0.32 per share. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, December 5th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. Cass Information Systems’s dividend payout ratio is currently 54.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CASS shares. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Cass Information Systems in a research note on Friday, October 24th. Zacks Research downgraded Cass Information Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded Cass Information Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cass Information Systems in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.50.

About Cass Information Systems

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. The company operates through two segments, Information Services and Banking Services. Its services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.